Synchronoss Technologies (NASDAQ:SNCR) Posts Earnings Results, Misses Expectations By $0.15 EPS

Key Points

• Synchronoss Technologies reported quarterly earnings of $0.10 per share, missing estimates by $0.15, while revenue was $42.49 million, slightly below the expected $42.79 million.
• The company's stock price fell to $6.80 after the earnings release, and it has a market capitalization of $78.14 million with a negative net margin of 1.23%.
• Insider trading activity included sales by CEO Jeffrey George Miller and Director Laurie Harris, with Miller selling 7,913 shares and Harris selling 4,800 shares, indicating potential concerns about the company’s performance.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) posted its earnings results on Monday. The software maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15), reports. The firm had revenue of $42.49 million during the quarter, compared to the consensus estimate of $42.79 million. Synchronoss Technologies had a negative return on equity of 3.77% and a negative net margin of 12.36%. Synchronoss Technologies updated its FY 2025 guidance to EPS.

Synchronoss Technologies Stock Performance

NASDAQ SNCR traded down $0.17 during trading on Friday, hitting $6.42. 50,340 shares of the company's stock traded hands, compared to its average volume of 92,052. Synchronoss Technologies has a 12-month low of $6.00 and a 12-month high of $15.46. The stock has a market capitalization of $73.83 million, a price-to-earnings ratio of -3.07 and a beta of 1.77. The company has a debt-to-equity ratio of 3.67, a quick ratio of 2.05 and a current ratio of 1.72. The business has a 50 day moving average of $7.20 and a 200-day moving average of $8.68.

Insider Transactions at Synchronoss Technologies

In other news, CEO Jeffrey George Miller sold 7,913 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $7.06, for a total value of $55,865.78. Following the sale, the chief executive officer directly owned 429,647 shares of the company's stock, valued at approximately $3,033,307.82. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laurie Harris sold 4,800 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $7.00, for a total transaction of $33,600.00. Following the completion of the sale, the director directly owned 47,632 shares in the company, valued at approximately $333,424. The trade was a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,074 shares of company stock worth $226,417. Insiders own 19.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNCR. Goldman Sachs Group Inc. grew its position in Synchronoss Technologies by 212.3% during the first quarter. Goldman Sachs Group Inc. now owns 32,600 shares of the software maker's stock valued at $355,000 after acquiring an additional 22,160 shares during the last quarter. Jane Street Group LLC bought a new position in Synchronoss Technologies during the first quarter valued at approximately $260,000. Geode Capital Management LLC grew its position in Synchronoss Technologies by 119.7% during the second quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker's stock valued at $1,614,000 after acquiring an additional 128,375 shares during the last quarter. American Century Companies Inc. bought a new position in Synchronoss Technologies during the second quarter valued at approximately $88,000. Finally, Russell Investments Group Ltd. grew its position in Synchronoss Technologies by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 87,344 shares of the software maker's stock valued at $598,000 after acquiring an additional 3,374 shares during the last quarter. 51.71% of the stock is currently owned by institutional investors.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.